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Relay Ltd. (an unlisted Non NBFC) redeems its 8,000, 10% Debentures of ₹ 100 each in instalments as follows:
| Date of Redemption | Debentures to be redeemed |
| 31st March, 2019 | 2,000 |
| 31st March, 2020 | 5,000 |
| 31st March, 2021 | 1,000 |
On the basis of the above details, what will be the amount of Debenture Redemption Reserve which the company will transfer to General Reserve on 31st March, 2021?
Concept: Creation of Debenture Redemption Reserve
What is the maximum amount of debentures which an unlisted company, other than a NBFC and HFC, can redeem out of its capital?
Concept: Creation of Debenture Redemption Reserve
On 1st April, 2012, Neptune Finance Company (a listed NBFC) issued 4,000, 9 % Debentures of ₹ 100 each to be redeemed at a premium of 5% on 31st March, 2021.
You are required to pass necessary journal entries for the issue and redemption of debentures.
Concept: Issue of Debentures at Par at Premium and at Discount
Suhas Ltd. issued 1,000, 7% Debentures of ₹ 100 each to be redeemed after three years at a premium of 5%. The face value of the debentures was payable as:
₹ 20 on Application
₹ 30 on Allotment (on 1st May, 2020)
₹ 30 on First call (on 1st October, 2020)
₹ 20 on Final call (on 1st January, 2021)
All the debentures were applied and allotted.
Ali, to whom 20 debentures were allotted, paid the allotment money and the two calls on 31st March, 2021. The Articles of Association of the company provided for interest on calls-in-arrear to be charged @ 10% per annum, which Ali paid on 31st March, 2021.
You are required to pass journal entries in the books of Suhas Ltd. to record:
- The adjustment and receipt of interest on calls in arrears
- The entry to close the interest on calls in arrears account
Concept: Issue of Debentures at Par at Premium and at Discount
Which one of the following analysis is considered as a dynamic analysis?
Concept: Liquidity Ratios
You are required to prepare a Comparative Statement of Profit & Loss from the following particulars of Nishant Ltd.
| Particulars | No. | 31.03.2021 (₹) |
31.03.2020 |
| Revenue from operations | 4,00,000 | 3,00,000 | |
| Cost of raw materials consumed | 2,00,000 | 1,50,000 | |
| Changes in inventories of raw materials |
25,000 | (12,500) |
Concept: Comparative Statements
How is a top to bottom relationship among the items in a database established?
Concept: Database Management System (DBMS)
What is meant by Database Partitioning?
Concept: Database Management System (DBMS)
List the components of storage manager.
Concept: Database Management System (DBMS)
List the models into which the development of database technology is divided.
Concept: Type of Database Management System (Dbms)
Which property describes the various characteristics of an entity?
Concept: Features of Database Management System (DBMS)
Give any two basic commands of SQL.
Concept: Features of Database Management System (DBMS)
From the following extracts of a company’s Balance Sheets, and the additional information, you are required to calculate Cash from Operating Activities for the year ending 31st March, 2021.
Anjan Ltd. reported a profit of ₹ 80,000 for the year ended 31st March, 2021, after considering the following:
| Particulars | (₹) |
| (i) Tax provided during the year | 4,000 |
| (ii) Amortization of Patents | 10,000 |
| (iii) Profit on sale of Vehicle | 3,000 |
| (iv) Writing off Preliminary expenses | 2,000 |
| During the year, machinery costing ₹ 40,000 (accumulated depreciation thereon being ₹ 18,000) was sold for ₹ 6,000. |
|
| 31.03.2021 (₹) | 31.03.2020 (₹) | |
| Trade Receivable | 20,000 | 16,000 |
| Inventory | 12,000 | 15,000 |
| Cash at Bank | 8,000 | 10,000 |
| Trade Payable | 9,000 | 11,000 |
| Marketable Securities | 5,000 | 2,000 |
| Plant & Machinery | 88,000 | 1,30,000 |
Concept: Calculation of Net Cash Flows from Operating Activities Based on Indirect Method
How is index hunting helpful?
Concept: DBMS in Business Application
Give any two measures to achieve index hunting.
Concept: DBMS in Business Application
Give the difference between data and information along with an example.
Concept: DBMS in Business Application
Orange Ltd. took over assets of ₹ 7,00,000 and liabilities of ₹ 60,000 of Purple Ltd. for a purchase consideration of ₹ 6,30,000 payable by the issue of 10% Debentures of ₹100 each at a premium of 10% and if need be, a part of the purchase consideration in cash. How will the company meet the purchase consideration?
Concept: Redemption of Debentures for Immediate Cancellation - Draw of Lots, Lump Sum and Purchase in the Open Market
From the following extracts of a company’s Balance Sheets and the additional information, you are required to calculate Cash from Financing Activities for the year ending 31st March, 2021.
| Particulars | 31.3.2021 (₹) | 31.3.2020 (₹) |
| Equity Share Capital | 9,00,000 | 7,00,000 |
| 10% Preference Share Capital | 3,00,000 | 5,00,000 |
| Securities Premium Reserve | 30,000 | 5,000 |
| 12% Debentures | 4,00,000 | 3,00,000 |
| Cash Credit | 12,000 | 10,000 |
Additional information:
- During the year 2020-21:
- Dividend proposed on Equity Shares in 2019-20 of ₹ 65,000 was declared and paid.
- Debentures were issued on 1st July, 2020, at a discount of 10%.
- Interest on cash credit of ₹ 500 was paid.
- Underwriting commission of ₹ 25,000 was paid to the underwriters.
- The Equity shares were issued at a premium.
- The 10% Preference Shares were redeemed on 31st March, 2021.
Concept: Preparation of Cash Flow Statement on Basis of Financing Activities
Which of the following transactions is debited to Revaluation Account?
Concept: Preparation of Revaluation Account and Balance Sheet
State with reason whether old furniture written off would lead to inflow, outflow or no flow of Cash and Cash Equivalents.
Concept: Cash and Cash Equivalents
